🇬🇧 UK to launch its own Crypto

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It looks like the NFT market might be lighting up again, with record-breaking sales and trading volumes. CryptoPunks and Bored Ape Yacht Club are leading the charge with million-dollar NFT sales. Meanwhile, the Bank of England is joining the digital currency craze with their new digital pound project.

On the Ethereum front, successful staking withdrawal tests on the Zhejiang test network took place, a major stride towards Ethereum becoming a fully proof-of-stake network. And, in a cautionary tale, a former Coinbase product manager has admitted to insider trading that earned a whopping $1.1 million.

Markets

Bitcoin sees golden cross which last hit 2 months before all-time high (2 minute read)Bitcoin has been hovering around $23,000 for the past few days and has witnessed a rare chart event for the first time in 18 months. The golden cross occurred on Feb 6, signaling a rising 50-day average crossing over the 200-day average. This hasn't happened since September 2021 and could indicate good things to come, the last time this happened was 2 months before all-time highs.

CryptoPunk, Bored Ape Sell for Over $1M Each as NFT Market Rebounds (3 minute read)The NFT market is heating up again, with January seeing a surge in sales and trading volume. Recent big-ticket NFT sales from CryptoPunks and Bored Ape Yacht Club, each worth over $1 million in ETH, show that a 2023 revival could be on the cards after a disappointing 2022! These sales were made by prominent collectors and creators, making them the two largest NFT sales in the past month, according to CryptoSlam.

Tech

UK's Bank of England launches digital pound project as 'new form' of money (3 minute read)The Bank of England is finally jumping on the digital currency bandwagon with their new project - the digital pound! With the goal of creating a new payment system and form of money, households and businesses will be able to access the currency through digital wallets or cards. This exciting news follows the UK government's recent crypto regulations and the Prime Minister's goal to make the country a fintech and crypto hub. Although the UK may be a bit behind its European neighbors, the digital pound is a big step in the right direction.

Ethereum Testnet Processes First ETH Staking Withdrawals (2 minute read)Ethereum's test network "Zhejiang" just successfully practiced withdrawing staked ETH, bringing it one step closer to becoming a fully proof-of-stake network. The dress rehearsal was a success and now developers are ready for the big show next month with the main Ethereum blockchain's Shanghai upgrade.

Misc

Millions in Crypto Donations Pour Into Turkey Following Devastating Earthquakes (3 minute read)Crypto companies are showing their heart by donating over $9 million to help the victims of the devastating earthquakes in Turkey and Syria. Companies like Binance, Tether, Bitfinex, OKX, and Kucoin are leading the charge in this humanitarian effort. The Avalanche Foundation is also getting in on the giving, with a generous $1 million donation in AVAX tokens.

Former Coinbase Manager Pleads Guilty to Insider Trading (2 minute read)A former Coinbase product manager, Ishan Wahi, has admitted to insider trading that raked in a cool $1.1 million. He plead guilty to two charges of conspiracy to commit wire fraud in the Southern District of New York, after previously denying the charges. Ishan was caught sharing information about upcoming token listings with his brother and a friend. His brother already admitted guilt and received a 10-month sentence.

Nigerians are fighting for their own money and Bitcoin can help (4 minute read)Nigerians are stuck lines at the banks and ATMs, trying to exchange their old banknotes for the new naira redesign. This is a challenge because Nigeria is still mostly cash-dependent despite moving towards a digital-cash economy. The solution? Bitcoin! Although mass adoption won't happen overnight, it'll put an end to these long lines and ensure money is a human right. Bitcoin may not be tied to a central authority, but it could be the solution to strengthening Nigeria's national economy.

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